US Durable Orders Fall 4.2%, U.S Dollar Steady - 25.4.2012

U.S orders for long-lasting goods fell 4.2 per cent, the data dropped 2.7 per cent more than expected. This drop in Durable Goods Orders was mainly due to fewer orders for commercial aircrafts. Purchase orders by manufacturers excluding transportation items dropped 1.1 per cent indicating that other goods categories were negative in March. Compared to 1.9 per cent revised increase in February, the data show a significant drop in orders for the manufacturing sector.

The US dollar versus its major peers was little changed today as the traders are expecting the FOMC press conference and the Federal Funds rate release later today. The Swiss franc per US dollar was trading around the 0.9100 level without clear direction. The Australian dollar against the greenback found resistance at the 1.0346 and is trading close to that level in the last 4 hours, it was lastly seen at the 1.0331. Against the Yen the US dollar was steady at around the 81.20 level, while earlier today declined from the 81.50 level to found support at the 81.10.